Exponential distribution is one of the widely used continuous distributions.
It is used to model the time taken between different events.
For example, in physics, it is often used to measure radioactive decay; in engineering, to measure the time associated with receiving a defective part on an assembly line; and in finance, to measure the likelihood of the next default for a portfolio of financial assets.
Another common application of Exponential distributions in survival analysis (e.g., expected life of a device/machine).
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A data distribution is a graphical representation of data that was collected from a sample or population. It is used to organize and disseminate large amounts of information in a way that is meaningful and simple for audiences to digest.
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